1/5290-292 Water Street, Summerside
290-292 Water Street, Summerside, PE C1N1B8
$2.6M total
—
Asset Class
Office
Size
—
Building class
A
Zoning
CO — Commercial Office
$ / SF
—
Occupancy
89%
Year Built
1987
Lot Size
0.5 ac
About this property
Incredible investment opportunity in Downtown Summerside. This building at 290 Water St formerly known as the National Bank building, was built in 1987 and has had some considerable upgrades and currently has long term tenants with strong leases. Four floors of office space and an elevator make this a well functioning location. 292 Water St. built in 1926, currently known as the Westland insurance building also has long term tenants with room for expansion on the second floor. It has 3 floors of office space with a full basement that could be used for storage. Vendor is listing agent. (id:66811)
Financial sandbox
Adjust the deal assumptions — returns recalculate instantly.
Monthly debt service
$12K
Projected NOI
$143K
Annual cash flow
$-1K
Cash-on-cash
-0.17%
DSCR
0.99
Going-in cap
5.49%
Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.
Area demographics
Trade area within 3 miles of the property.
Population
68,976
Households
24,049
Median income
$113,000
Median age
33
Daytime population
83,056
5-yr growth
6.1%
Modelled estimates for illustration until a licensed census data provider is connected.
Secure deal room
Confidential diligence documents for 290-292 Water Street, Summerside.
Offering Memorandum
PDF · 4.2 MB
Rent Roll & T-12
XLSX · 820 KB
Environmental Phase I
PDF · 6.7 MB
Site Survey & Plans
PDF · 11.4 MB
Zoning Confirmation Letter
PDF · 310 KB
Preview experience — the electronic NDA is illustrative and is not a binding agreement.